Source: Cointelegraph/TradingViewBitcoin price meets decisive RSI setupData from Cointelegraph Markets Pro and TradingView showed BTC/USD finding strength during weekend trading.Up 1.5% on the day, Bitcoin edged higher as part of a broad crypto market uptick, which also lifted various major altcoins.“I think this next week will be telling where the market wants to head for the next higher timeframe move,” popular trader Daan Crypto Trades wrote in part of his latest X analysis, noting the closing position of CME Group’s Bitcoin futures.BTC/USD 15-minute chart.
Related: Here’s why Bitcoin price can’t go higher than $87.5KThe local bottom, it told X followers in its latest market analysis, lay at $76,000 — a level already revisited earlier this month.“While many are panicking and declaring a bear market, the long-term trend channel (green lines) remains firmly intact,” it summarized alongside a chart showing BTC price fluctuations around an average trend line during bull markets.“This correction doesn't invalidate the uptrend - it confirms it.”BTC/USD 1-week chart.
Source: Matthew Hyland/XBull market to return in “a couple of weeks? ”Elsewhere, trading team Stockmoney Lizards shrugged off the idea that Bitcoin risked entering a long-term bear market.
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Author / Journalist: Cointelegraph by William Suberg
The story "Bitcoin 'in position' for first key RSI breakout in 6 months at $85K" has 462 words across 18 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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